What's Going On With The Banks

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Doka
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What's Going On With The Banks

Post by Doka » 03-13-2023 04:04 PM

At this point no one really knows, the Fallen have been bailed out by the Feds. Please, Don't tell me you actually believed it, when Joe said "No Bail - Out" that's just TOO Pathic!

Here is my guess (subject to being wrong, but not on everything!) Going to go cashless, that way they don't miss a thing that you do with Their money that you currently think is yours.(you silly) makes it much easier to take what they want, savings, Retirements, all that stuff that is no longer important to you if you are "Woke" the $ will eventually be replaced, with some sort of world currency. You will be led to believe that every thing is OK , for awhile. Until this communist regime is put down, There will be no " sigh of relief"
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The Biden Admin Sees Bank Crisis As A Means Of Expanding Control

Post by Riddick » 03-15-2023 12:32 AM

On Friday, Silicon Valley Bank (SVB) failed. That became the second-largest bank failure in American history. Then on Sunday, authorities took over Signature Bank in New York – that became the third-largest bank failure in American history.

There was panic, of course, and panic could quickly conceivably become a catastrophe. On the brink of catastrophe, you need one thing – strong, competent leadership. But we don't have that. We have Joe Biden shuffling out to the podium and announcing a bailout.

What we know is the Biden administration is backstopping these deposits. OK, but that's not the end of the story. In some ways, it's the beginning. Here's the part where you pause and ask yourself a question that too few seem to be considering right now. They're doing this. What are they going to get in return? Something for sure.

Remember that after 2008, the Obama administration, Eric Holder, swooped in and imposed DEI – diversity, equity and inclusion standards – on the entire financial sector and that's one of the main reasons are big banks are now increasingly incompetent and also one of the reasons Americans are so divided by race. Ideologues used the 2008 bank bailout to kill American meritocracy. That's a big step, mostly unacknowledged, but we're living with its consequences.

You have to ask yourself, what are they going to do this time? Well, we know we're about to see bank consolidation, big banks eating little banks and that means less competition. More consolidation means more government control. What are they going to do with that control? Well, all things being equal, if people don't start making a lot of noise and exerting an awful lot of pressure, it'll mean digital currency, a currency that politicians control.

So, what we do know is that the Democratic Party, the Biden administration, sees this crisis as a means of expanding their control. And we know this because in a recent Zoom call with the Fed, Treasury Department, other financial regulators with members of Congress, Senator Mark Kelly of Arizona asked whether there was a program in place to censor social media posts that could lead to a national run on banks and that's according to Congressman Thomas Massie.

So, think about this for a second. You've got a deposit at a regional bank that's holding tons, way more than you know of, long-term treasuries that are worth a lot less than they were when the bank bought them. That means that bank is at risk. That means your money is at risk, but Senator Mark Kelly of Arizona doesn't want you to know about that.

Why wouldn't they want you to know that? Kind of interesting. That kind of censorship could actually crush people. We have to ask the obvious question: How close are we to some sort of disaster and to what extent are the people in charge abetting it?

FULL STORY
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Silicon Vally Bank: More Government, Less Reality

Post by Riddick » 03-16-2023 01:35 PM

The 2008 financial crisis was one more example of damage done by excessive government. Then, mortgage issuing standards fell due to government entity pressure on lenders to meet affordable housing goals. More and more substandard loans were issued under the illusion of government protection, until the house of cards collapsed.

Time and again, a crisis caused by government is supposedly solved by creating even more government. So, with the Dodd-Frank Act in place, passed after the total collapse under the pretense of "solving" problems of financial system instability, here we are again.

The amazing story that emerges behind SVB is its violation of principles that any undergraduate student in business learns. That is, banks make a profit by lending, investing at higher rates of interest than they pay on deposits.

Managing interest rate risk is Finance 101, yet mismanagement of risk — the bank ignoring huge problems it would have if interest rates increased — is what brought it down. How can it be allegedly smart people do incredibly stupid things?

After the 2008 crisis, there were major government bailouts. This builds into the mentality that if you are big enough, government will not let you fail. And if you believe government will not let you fail, that government is your friend, you tend to do stupid, irresponsible things.

On top of this, when government passes laws like Dodd-Frank, it builds an attitude in that the problem has been solved. In this case, that a system was put in place under which banks won't fail.

As our culture becomes more deeply mired in a sense our lives get better with more government and politics, more and more business people become detached from reality. In this case, over recent years, "woke" culture has become rooted more and more deeply in business, particularly hi-tech companies, a major SBV customer base.

Woke and ESG investment guidelines — environmental, social, and governance — seems to have captured more attention at Silicon Valley Bank than the risk management essential to running their business.

The proxy statement of the bank, writes WSJ columnist Andy Kessler, notes that the board is "45% women" and there is "1 Black ... 1 LGBTQ+ ... and 2 Veterans."

Republican presidential candidate Vivek Ramaswamy notes that SVB announced in 2022 committing $5 billion in "sustainable finance and carbon neutral operations to support a healthier planet."

Worth adding to the picture is that the interest rate increases that SVB did not anticipate resulted from the inflation generated by trillions of dollars of government spending during COVID.

So now, fellow citizens, hold on to your wallets as our government bails out SVB, despite Treasury Secretary Janet Yellen saying it won't happen. The only good news is it increases prospects for a Republican victory in 2024.

FULL STORY
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Re: What's Going On With The Banks

Post by Doka » 03-16-2023 05:33 PM

I just got back from the Bank, with cash with-drawl not even close to taking all of it out, small town bank. The circumstances that I am in I use cash for what little local things I can get to. Not walking very well these days. So my shopping is limited. I do use a credit card, but never buy more than I can not pay in full when billed .

The only good news as beliveable or not , is that we are closer and closer to our nw source of energy.




Card over Cash

https://www.statista.com/chart/23950/pr ... countries/
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DENNIS PRAGER: Banks Go Bust When Activism Comes Before Business

Post by Riddick » 03-17-2023 01:45 AM

The primary concern of the people who ran the Silicon Valley Bank was not banking. Nor was it making money for the bank’s shareholders or safeguarding depositor funds. Their primary concern was social activism — LGBTQIA+, DEI (Diversity, Equity, Inclusion), ESG (Environmental, Social, and Governance) and climate change.

In fact, for nine months — from April 2022 until only eight weeks ago — SVB in America didn’t even have a chief risk officer (CRO). It did have a CRO for Europe, Africa and the Middle East; but the woman entrusted with that role, Jay Ersapah, was apparently considerably more interested in left-wing activism than in risk assessment.

The Daily Mail reported Ersapah - who identifies herself as a “queer person of color” - “organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented ‘safe space’ catch-ups for staff. In a corporate video, she said she ‘could not be prouder’ to work for SVB serving ‘underrepresented minorities.'”

Listed as a top 100 LGTBQ Future Leader, her bio on the Outstanding professional network site states "Jay is a leading figure for the bank’s awareness activities including being a panelist at the SVB’s Global Pride townhall to share her experiences as a lesbian of color…supporting employees in sharing their experiences of coming out".

How is one to explain SVB’s - and for that matter, virtually every major bank’s - woke activism?

There are a number of possible reasons, but here is one that explains the left-wing activism of almost every profession. Beginning in the second half of the 20th century, people in nearly every white-collar profession ceased finding their work inherently meaningful. So, they sought to use their profession to change the world.

Take journalism. For most of American history, reporters understood their primary job was to report news. And for the most, reporters believed that was important work. In the second half of the 20th century, more and more of them found reporting the news unexciting and meaningless. So, they sought to use journalism to change the world.

Sports writers are one such example. There is no group more woke, or more sheeplike. They decided merely writing about sports was not particularly significant. The hysteria they whipped up over the name “Redskins” gave the lives of sports writers much more meaning than reporting on football games. They were making the world a better place.

The same holds true for actors. Until about the mid-20th century, few actors spoke out on political issues but, again, beginning in the second half of the century, Hollywood stars thought they had to “make a difference," one result being the Academy Awards morphing into joyless celebrations not of acting, but of left-wing anger.

The same goes for academia. If you're an English prof why merely teach English lit when you can change the world? Doesn’t that make you feel much more important? And, if true for college, how much more true for a grade school teacher? What makes you feel more important — teaching kids how to read and write or fighting racism?

There are two related reasons for these developments. One is the ascent of leftism, an ideology that regards literally every aspect of life as political. For the left, there are no non-political spheres. Whether you are a kindergarten teacher, a sportswriter or a Philadelphia Orchestra oboist, you are to bring political activism into your work.

The other reason is the loss of meaning in our secular society. Religious sources of meaning have begun to disappear. And secularism is rapidly leading to the collapse of the other great source of meaning in people’s lives: marriage and family, as we witness the lowest number of marriages and children in American history.

Therefore, one has had to look elsewhere for meaning. And where do people look? To career and political activism — and ideally, the merger of the two. Whereas in the past, one’s work was primarily regarded as a means to an end — namely, a way to provide for one’s family — today, work is an end in itself.

That’s why the people running the Silicon Valley Bank were more interested in LGBTQ activism than in making its investors money and safeguarding client deposits. The former is way more meaningful.

FULL STORY
Last edited by Riddick on 03-17-2023 02:18 AM, edited 1 time in total.
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Re: What's Going On With The Banks

Post by Riddick » 03-17-2023 02:07 AM

Doka wrote: 03-16-2023 05:33 PMI just got back from the Bank, with cash with-drawl not even close to taking all of it out, small town bank. The circumstances that I am in I use cash for what little local things I can get to. Not walking very well these days. So my shopping is limited. I do use a credit card, but never buy more than I can not pay in full when billed .
I have checking & savings accounts at a local credit union, & a debit card I use for most purchases rather than credit cards. I carry cash for places I cant use debit/credit, & use EFT instead of checks except for the occasional one-off -

Like banks, CU deposits are insured up to $250K, but being nowhere near that league I should be fully covered provided the feds don't deplete their reserves bailing out big Woke banks - & I'd not bet we're anywhere near seeing the end of it.

As it is, I looked into my CU, turns out it's the 52nd largest in the nation & has an A health rating, but if it's Woke, I dunno. If they are, they're not broadcasting it and we know infected institutions are anything but shy about letting the world know.
Doka wrote: 03-16-2023 05:33 PMThe only good news as beliveable or not , is that we are closer and closer to our nw source of energy.
Is it diverse, equitable & inclusionary? Does it have environmental & social value? If not, in the current climate passing muster with regulatory overlords is unlikely - Wind & solar alone fit the bill, mainly 'cuz they're next thing to worthless.

Woke elites don't want plentiful energy. Nor are they concerned about cleanliness. The way they're achieved renewables are dirty but that's OK, so long's it's NIMBY. What's important is to impoverish the masses & have 'em by the short hairs -

A new energy source complicates their plan for total control - Can't have THAT! So I expect the usual suspects will put it down, rip it to shreds, call it racist & transphobic, you name it! You can take that to the bank, 'specially any big & Woke.
A mind should not be so open that the brains fall out; however, it should not be so closed that whatever gray matter which does reside may not be reached. ART BELL

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Re: What's Going On With The Banks

Post by Doka » 03-17-2023 02:01 PM

OMG, This is becoming totally sureal, All of it! The closer they get to "Bite- Me's China Syndrome" the crazier he is getting, he is by passing congress on every thing he is doing and yet there is other things being revealed that are breaking into the sun- light of Truth. If you can back-up far enough to see the trees, without the forest getting in the way, things that are happening ,things are appearing, like being orchestrated to the desired goal.
Boardering on a paranormal feel. My sense is that our predicament on this mudball is too refined, to be of human making. It will not stop until the " Higher Ups" not of this world , get the desired "Cause and Effect" that They want! We are being led to a "Crescendo" of experierence never experienced before on this Planet , without killing the Inhabitants First. Our "Creators" Love us, but they sure as hell expect a lot of us! The trial by fire, will fine tune and expose just what kind of Souls we are.
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Silicon Valley Bank Bailout Is Socialism For The Rich

Post by Riddick » 03-18-2023 04:34 PM

The Fed claims no costs of bailing out SBV will be borne by the taxpayer. Don’t be fooled by these word games. SVB’s safety net may be paid with premiums banks pay to the Federal Deposit Insurance Corporation. That in turn means banks will charge customers—i.e. taxpayers—more.

Meanwhile, the tech industry has already benefited tremendously from government policy. From 2020 to the end of 2021, SVB’s assets grew 83%—and kept growing into 2022. For at least three years, government policy has underwritten tech speculation and fantastic valuations. Venture capitalists and founders became fantastically rich.

In fact, they became so flush they poured cash into their portfolio companies until it overflowed into deposit accounts at SVB, which in turn bought government bonds and mortgage-backed securities. When interest rates rose thanks to Bidenflation, those bonds and securities lost value.

These entrepreneurs either knew, or should have known, the risks they were taking, and the government should not be in the business of rewarding this arrogance and stupidity. A government bailout, given this chain of events, is nothing more than socialism for the rich.

It is not irrelevant upwards of 90% of Silicon Valley’s political donations flow to Dems, and the tech bros shelled out far more for President Biden than for Hillary Clinton. This of course as some of Silicon Valley’s major players have cozied up to America’s enemies and eagerly done the bidding of the Democratic Party in its attempts to ostracize and silence dissenting views.

It’s hard to stomach a bailout for these people. It will be even harder for the Democrats to explain it to American taxpayers.

FULL STORY
A mind should not be so open that the brains fall out; however, it should not be so closed that whatever gray matter which does reside may not be reached. ART BELL

Everything Woke turns to Image
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